The manager who oversees the CCAR process had difficulty updating existing data sources to accommodate changes made to the filing process every year by the Federal Reserve.
The reporting team struggled to put together its best report within the time frame given—instructions from the Federal Reserve arrive in October, scenarios are published by mid-November, and the report is due January 5.
Scenarios are tested several times. Each time the results need to be run through the plan to determine their impacts, leaving little time for reviewers to assess the complete results.
Workbook sync allows the reporting team to leverage existing spreadsheets to be easily usable regardless of changes to the report structure. Workbooks are linked throughout the plan and supporting documentation to keep everything up to date.
Quick report development
By utilizing the existing supporting documents, the start-up time is minimal and the documents look familiar to users. The reporting team now has more time to compile a comprehensive report.
Multiple scenario analysis
The reporting team uses linking to automatically update all financial information throughout tables, charts, and narrative. This creates more time to run multiple scenarios for review and analysis.